For what seems like forever, South Korea has been waiting for the iPhone, and now it would seem that the long wait is finally over as the boy genius report reports that the iPhone is now officially available in South Korea with hundreds of Koreans lining up to grab the iconic handset.

Other than those who lined up braving the elements at the Olympic stadium in Seoul, iPhone seekers apparently pre-ordered almost 65,000 iPhones in the run up to the launch. The iPhone is being offered by South Korea’s number two mobile provider, KT Corps.

Price wise the iPhone 3GS 32GB handset commands a price tag of 396000 won which is about $338 in conjunction with a 45000 won or $38 monthly plan. Or if you opt for a slightly higher monthly plan of 65000 won which is about $55 you can get the iPhone 3GS 32GB for 264000 won, $225.

The South Korean mobile market is currently dominated by Samsung and LG, and the word is both manufacturers have already begun lowering prices on their mobile phone across the board due to already feeling the pressure of the iPhone launch.